The China Economic and Industrial Zone (CEIZ), spanning 783 acres in Anwara upazila of Chattogram, has been under development since 2016 following a government-to-government (G2G) agreement. The initiative took shape after Chinese President Xi Jinping’s visit to Bangladesh, during which the foundation stone was laid. To expedite construction, China appointed the China Road and Bridge Corporation as the new developer in 2022. After experiencing years of delays, the project has gained fresh momentum, according to officials from the Bangladesh Economic Zones Authority (Beza) reportedly.
As part of efforts to strengthen ties and boost investment, nearly 200 Chinese companies are expected to participate in discussions during Chief Adviser Muhammad Yunus’ upcoming visit to China. The Bangladesh Investment Development Authority (Bida) and Beza’s Executive Chairman, Chowdhury Ashik Mahmud Bin Harun, emphasized that this visit presents a crucial opportunity to encourage further Chinese investments in Bangladesh.
Additionally, the first bilateral meeting between Chief Adviser Yunus and President Xi Jinping is scheduled to take place in Beijing on March 28, as confirmed by the Chief Adviser’s Press Secretary, Shafiqul Alam.
Acknowledging previous setbacks, Harun stated that the CEIZ project had faced delays due to various challenges but that efforts were being made to resolve them. Over the past month, significant progress has been achieved, and an official agreement is expected to be announced soon.
Read more: Bangladesh Struggles To Leverage Zero-Duty Trade With China Amid Rising Imports
Several Chinese companies have already lined up to establish factories within the economic zone, signaling renewed confidence in Bangladesh as an investment destination.
Bangladesh is also preparing to host the Bangladesh Investment Summit-2025 from April 7 to 10, an event expected to further strengthen economic ties.
During a recent press conference, Harun noted that rising US tariffs on Chinese products in recent years have pushed many Chinese firms to explore Bangladesh as an alternative manufacturing hub. Chinese businesses have consistently expressed growing interest, with new firms showing keen intent to set up factories in Bangladesh daily, he added.
Over the years, China has emerged as the largest foreign investor in Bangladesh, particularly focusing on renewable energy, advanced textiles, and garment manufacturing.
According to the Bangladesh Export Processing Zones Authority (Bepza), data from three months ago shows that Chinese firms have invested $1.6 billion across 107 industrial units in EPZs and Bepza Economic Zones, creating employment for 133,000 Bangladeshis.
With the CEIZ project back on track and Chinese investment interest steadily rising, Bangladesh is positioning itself as a key manufacturing and investment hub in South Asia.
For more updates, be with Markedium.
Leave a comment